Comstock Inc (LODE)

[resourceinvest]

Also Lester is using a Resource rather than a Reserve. To use his illogical theory, the resource he seems to be quoting as having 3 million ounces had 96 million tons.

Using Lester's flawed logic, 2.5 million of these tons were mined and treated during 2012 - 2015 recovering 60,000 ounces during which time they consumed $60 million in cash. This was achieved at an average gold price of around $1,300 per ounce (i.e. higher than it is today). This represents a loss of $24 per ton or $1,000 per ounce. Therefore the remaining 92.5 million tons (~will loose Comstock another $2.2 billion. Therefore these Resource that Lester believes is worth $1.6 billion really represents a liability of $2.2 billion. A $3.8 billion overstatement. I appreciate my logic is somewhat flawed but no more or less than Lester's.